MINERALRITE Corporation [Symbol: RITE] Announces Filing of FORM 10-12g through EDGAR
Rhea-AI Summary
MINERALRITE (RITE) has filed Form 10-12g with the SEC to initiate the process of becoming a fully reporting company. The filing is accessible through the SEC's EDGAR System and has been posted on RITE's Investor Relations page.
CEO James Burgauer outlined the company's strategic plan: first cleaning up and stabilizing the company, then acquiring assets, followed by raising capital for development and certification of acquired assets. The company aims to engage with the brokerage community through PCAOB audited financials and Form 10-12g filing to facilitate more active trading and potential lifting of the 'Unsolicited Quotes Only' banner through a 15c-211 sponsor.
The Form 10-12g is pending SEC review and comments. The company believes it has provided thorough, fair, and accurate disclosures.
Positive
- Filing Form 10-12g to become a fully reporting company, enhancing transparency
- Strategic progression from cleanup to asset acquisition and development
- Working towards PCAOB audited financials
- Plans to engage brokerage community for improved stock trading
Negative
- Form 10-12g still requires SEC review and approval
- Currently under 'Unsolicited Quotes Only' trading restrictions
- Requires additional capital raising to develop acquired properties
News Market Reaction – RITE
In the trading session that priced this news, RITE declined 6.67%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Dallas, Texas--(Newsfile Corp. - February 19, 2025) - MINERALRITETM Corporation (OTC Pink: RITE) (the "Company" or "RITE") has filed FORM 10-12g with the SEC to begin the process of becoming fully reporting. Access to the filing is available through the EDGAR System, which is also known as the SEC's Electronic Data Gathering, Analysis and Retrieval System. RITE's Form 10-12g and other filings can all be located online at https://www.sec.gov/edgar/browse/?CIK=1096296&owner=exclude.
Information about all companies that report through the EDGAR System can be searched using the Company Search bar found on the EDGAR landing page located at https://www.sec.gov/search-filings. Companies can be searched using their ticker symbol, which in the case of MineralRite Corporation is RITE, or through a company's unique CIK code, which in RITE's case is 1096296.
For the convenience of RITE's shareholders, the Form 10-12g has also been posted on RITE's Investor Relations page which is located at https://mineral-rite.com/investor-relations. OTCMarkets.com should also pick up the link from EDGAR and post it under RITE's Filings and Disclosure section.
"The Form 10-12g filing culminates a little more than a full year of getting this Company cleaned up and moving in the RITE direction," said James Burgauer, RITE's President and CEO. "As I said when I first took over - first we need to get the Company foundationally clean and stable. Then we need to start acquiring a base of assets. After that, we need to raise a bit of money to start developing, upgrading, and certifying the true value of the assets that we acquired while simultaneously positioning RITE to undertake a more substantial capital raise. To facilitate that RITE will need to start working with the brokerage community to get them interested and behind the stock, which will, in turn, help us get the necessary funds raised to get those properties into production. It's been my belief all along that by having both PCAOB audited financials and filing a Form 10-12g, the Company will have gone a long way towards getting its stock more accepted and more actively traded by the brokerage community. Once these things are accomplished, RITE can work towards getting a sponsor for a 15c-211 and get the eligible for Unsolicited Quotes Only banner lifted. It's really a fairly simple and straightforward plan - and I believe that RITE's management team has been doing a most excellent job in executing it."
"Of course, the SEC still needs to review and comment on the Form 10-12g filing, and that will happen in due time," said Burgauer. "We believe that we have done a very thorough job to present full, fair, and accurate disclosures about the Company. Of course, we await any forthcoming staff comments, suggestions and improvements."
A copy of the Form 10-12g, a joint letter to both RITE and NMC shareholders discussing the recent acquisition, and a host of other topical disclosures as well as shareholder Question and Answers can be found at www.mineral-rite.com/investor-relations.
Safe Harbor Disclosure
Forward-Looking Statements Certain information set forth in this presentation contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.
These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
No Offer or Solicitation. This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No public offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Investor Relations
investor-relations@mineral-rite.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241487